Lexy

UTS Energy: Risky Play?

This company is toast. It has never produced a single barrel of oil and has only been adept at pushing its schedule back year after year, from 2009 to 2012. The reality is that they have not and will not ever acquire the billions necessary to fulfill their obligations to the partners esp. in this credit environment which is compounded by the freefall in oil prices. Their best hope is m&a. The most realistic outcome is insolvency.